Guangzhou-based automaker XPeng reported its second quarter earnings results on Tuesday, with the company saying it expects its deliveries for the current quarter to jump over 140% year on year.
After delivering 103,181 vehicles in the second quarter — which stood within the guidance of between 102,000 and 108,000 units issued in May — the company released this Tuesday a target for the July-September period.
XPeng said it expects to deliver between 113,000 and 118,000 vehicles in the third quarter, which would represent a 142-153% jump from a year ago.
In July, the company delivered 36,717 vehicles, marking its ninth consecutive month above 30,000 units and a new all time high for the brand since it debuted in late 2018.
This means that XPeng expects to deliver between 76,283 and 81,283 vehicles in August plus September to reach the guidance.
The figures represent an average of 38,141 vehicles per month — above the record monthly deliveries reached in July.
To reach these figures, the brand is relying on its entry-level model — the Mona M03, which continues to drive the majority of sales, representing over 40% of deliveries in July — and its newly released vehicles.
The brand officially launched its G7 SUV in the beginning of July, calling it “the world’s first L3-level intelligent super AI vehicle.”
Deliveries of the model began on July 7. The SUV represented 5,529 units, and about 15%, of the total vehicles handed over last month by XPeng.
The mid-size SUV is priced between 195,800 yuan and 225,800 yuan ($27,300–$31,500).
Earlier this month, the company unveiled a refreshed version of its P7 sedan — a model originally launched in April 2020. It secured over 10,000 pre-orders in just 6 minutes and 37 seconds.
The model is set to launch later this month, according to XPeng. The brand also released updated versions of its G6 and G9 SUVs in China earlier this year, which have recently arrived in Europe.
Last week, the new iteration of the P7 has undergone a 24-hour endurance test, in which it beat the record of Xiaomi‘s YU7 by 17 km — with 3,961 km driven in a single day, including charging stops.
XPeng also reached its 200,000th delivery year to date during July, and the 800,000th since its founding 11 years ago.
Between January 1 and July 31, the company delivered a total of 233,906 vehicles and is on track to beat its target of 380,000 units for 2025.
By the end of July, XPeng had achieved 61.6% of its full-year target of 380,000 units, which CEO He Xiaopeng said earlier this year he was “confident” about the company reaching.
